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AZREB.com | Real Estate Forms
ASSIGNMENT
OF TENANT LEASE
WHEREAS,
,
an Arizona
(hereinafter "Assignor"), as the owner of that
certain Property located in Maricopa County, Arizona, and more particularly
described on Exhibit "A" attached hereto and incorporated
herein by reference for all purposes, is the landlord under certain leases
covering portions of such Property, all of which leases are listed on Exhibit "B"
attached hereto and made a part hereof; and
WHEREAS, Assignor has sold all of said Property above to __________________________,
Inc., an Arizona corporation (hereinafter "Assignee"); and
WHEREAS, under and by virtue of the terms of those certain Escrow
Instructions dated the day
of
, 19__, and Addendum thereto wherein Assignor has agreed to sell to
Assignee the above described Property, and the said Assignor has also agreed to
assign to Assignee all its rights under that certain Lease listed on Exhibit "B"
attached hereto.
NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good
and valuable consideration, the receipt, adequacy and sufficiency of which are
hereby acknowledged, the said Assignor does hereby assign, transfer and convey
unto the said Assignee all of that certain lease listed on Exhibit "B"
attached hereto, together with any extensions thereof, and any guaranties of
the tenants' obligations under and thereof, it being the intention hereby to
establish an absolute transfer and assignment of all of the foregoing to
Assignee.
In the event of any controversy, claim or dispute between the parties
hereto, arising out of or relating to this Agreement or the breach thereof by
either of them, which shall result in litigation before any court, the
prevailing parties shall be entitled to recover from the losing party, in
addition to any other relief to which it is entitled, its reasonable attorneys'
fees, expenses and costs. The
parties hereby agree that the court shall have the authority and jurisdiction to
fix, and shall fix, such attorneys' fees, expenses and costs and shall include
the same in any judgment rendered therein.
Assignee hereby assumes and agrees to perform all obligations of Landlord
under the terms of the Lease, effective the date of the Assignment.
IN WITNESS WHEREOF, the parties have executed this _______ day of
_______, _____.
ASSIGNOR:
ASSIGNEE:
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